The US Consumer Price Index (CPI) for April will be released, and it could offer insights into the timing of the Fed's initial rate adjustment. Also, the Retail Sales for April will be published, and insight into consumer spending trends will be provided. The hotter-than-estimated inflation data could lead the Fed to a more aggressive stance, which boosts the Greenback and exerts some selling pressure on USD-denominated gold. Price will back to my TP for a retracement before flying back to ATH.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.